The decision is a blow to a takeover proposal backed by
Asciano and boosts the prospects of a rival bid from smaller
Australian logistics firm Qube Holdings Ltd.

The regulator said it would make a final ruling on
Australia's biggest inbound takeover in four years - and its
biggest buyout by a Canadian firm - on Dec. 17.

The Australian Competition and Consumer Commission dismissed
Brookfield's "long-term behavioural undertakings" to address
worries that the deal would give it both the rail tracks and
freight trains in some locations, potentially enabling it to cut
out other freight operators.

"After detailed consideration, the ACCC has concluded that
the undertakings are not acceptable," ACCC Chairman Rod Sims
said in a statement, without specifying the undertakings.
Continued...